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Saudi Arabia, Iraq, and the War on Terrorism

Saudi Arabia, Iraq, and the War on Terrorism

November 26, 2002 | Mordechai Abir
The recuperation of Iraq's oil industry could prove a major threat to the oil-dependent Saudi economy. Saudi per capita income has fallen from about $23,000 in the early 1980s to about $7,000 last year. Prince Abdallah has attempted to reform the Saudi economy and reduce expenditures on subsidies and perks, including the costly stipends paid to 7,000 royal princes.